10 suggestions to increase Emirati investments and exports, according to the “Fifty Projects”Truth Consultancy
The economist, the general manager of the Truth Economic Consultancy Company, Reda Mosallam, called for issuing open, indefinite residences for investors, to contribute to achieving the goals of the Fifty-Year Plan on investment and trade, provided that these residences continue as long as the projects exist.
He said that this encourages more investors to invest in the UAE, and encourages existing investments for expansion, especially since the UAE is one of the best countries to reside, live and work in.
Mosallam noted the importance of many of the facilities issued by the state regarding investment, in accordance with the best practices issued in this regard, such as opening activities to 100% foreign ownership, canceling the sponsor, and announcing the issuance of golden and green residencies.
Mosallam called for continuing to reconsider government fees to cancel some and reduce some, to attract more investments to reach the target in the fifty projects, especially since the government has already made strides in this regard, expressing his confidence in the UAE’s ability to attract large investments during the coming years after the end of the pandemic.
Mosallam stressed the need for the banking sector to provide a credit on easy terms to new investors, especially since investors in the world do not rely on investing only on their money, but on obtaining soft loans from the banking system of the country in which they invest, especially since investors suffer from obtaining new loans, especially during a pandemic.
Mosallam called for reducing the cost of production in order to increase trade exchange and raise the competitiveness of UAE exports to foreign markets, and to reconsider the cost of basic services such as water, electricity, and gas, in addition to reducing the rent of land in industrial areas for investors so that the rent is symbolic, or the land is owned by them through annual installments.